NNPC, Shell, Chevron collabos in new project to inrease FG revenue by $16billion Two sets of alternative financing agreements on Joint Venture (JV) projects to boost reserves and production in line with government’s aspiration were executed in London on Monday between the Nigerian National Petroleum Corporation (NNPC) and two of its JV partners: NNPC/Chevron Nigeria Limited (CNL) JV and NNPC/Shell Petroleum Development Company (SPDC) JV. The two projects are expected to generate incremental revenues of about $16billion within the assets’ life cycle including a flurry of exploratory activities that would generate employment opportunities in the industry, boost gas supply to power and … [Read more...]
Trump Visit, US companies Signs big deals over $300 Billion
Trump Visit, US companies Signs big deals over $300 Billion Beyond oil Saudi Arabia is trying to invest to take care of such era, this happened during a visit by US president Donald Trump to the country, Saudi Arabia signed tens of billions of Dollars of deals reports Reuters. National oil firm Saudi Aramco said it signed $50 billion of agreements with U.S. firms. Energy Minister Khalid al-Falih said deals involving all companies totaled over $200 billion. Some deals had been announced previously, while others were memorandums of understanding that would require further negotiations to materialize. Below are major announcements: The Big Deals with US companies are: -- GE said it … [Read more...]
Certas Energy UK strengthens relationship with Shell Lubricants
Certas Energy UK strengthens relationship with Shell Lubricants Certas Energy Uk announced a strategic relationship with Shell Lubricants, this forms a distribution agreements that will span for five years, collaboration of the duo includes supply of Shell's high quality lubricants, technical expertise and logistical capabilities support. The two companies have been collaboration of the two companies started since 2004 and the new contract will bolster Certas Energy’s position as Shell’s largest contracted lubricants distributor in the UK reports UKHAULIER. The move allows each partner to play to its strengths, and customers will continue to benefit from access to a quality, … [Read more...]
Maersk Drilling breaks major record as it drills Norway’s deepest well
Maersk Drilling breaks major record as it drills Norway’s deepest well Danish offshore driller Maersk Drilling has made history by drilling the deepest ever well on the Norwegian Continental Shelf says Offshore Energy Today The company on Thursday said that using the jack-up rig Maersk Gallant had beaten the record by reaching a total depth of 5.491 meters while drilling the ultra high-pressure, high-temperature Solaris well for Total E&P. “We have broken a number of records during the Solaris operation. But this achievement is second to none. There was a lot of cheering in the driller’s cabin that day,” says Sadi Ozturk, Assistant Rig Manager on Mærsk Gallant. He … [Read more...]
Halliburton Launches Global Rapid Intervention Package
Halliburton Launches Global Rapid Intervention Package Boots & Coots Services, a Halliburton business, announced that it has developed a global rapid intervention package (GRIP), a suite of services to help reduce costs and deployment time in the event of subsea well control events. GRIP provides well planning and well kill capabilities, facilitated by the company’s global logistics infrastructure and existing product service lines. This includes both an inventory of well test packages, coiled tubing units and relief well ranging tools. In addition, GRIP features a new high temperature, 15,000 psi RapidCap (RC) air-mobile capping stack. Sourced from Trendsetter Engineering, RC … [Read more...]
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